The financial giant will now allow customers to trade bitcoin, although they will not be able to withdraw it to self-custody.
…it should still be noted that trusted third-parties are security holes, and that the only true way to sovereignly use bitcoin is through the holding of one’s own private keys.
https://bitcoinmagazine.com/business/fidelity-has-opened-bitcoin-trading-to-the-public
And zero clients will move to cold storage and thus this is no different than shitty coinbase. Its all paper claims to the coins
Tbf up to now the big third-parties surprised us by adding withdraw options at least relatively soon.
I would think they'd have to to be competitive.
Open doors for fractional reserve bitcoining, it seems. Also, offering custodial Bitcoin services is a good way for financial institutions to form an attractive deposit cushion against bank runs. Well, Bitcoin is for everyone, isn't it?!
Tireless education by Bitcoiners is needed.
